Newcastle on course to break even, says Derek Llambias

Newcastle are on course to break even this year, managing director
Derek Llambias has revealed.

Ambition: Toon owner Ashley has seen his club make an unbeaten start to the season

âIn 2008-9, we reported an operating loss before player trading of Â£37.7million,â said Llambias.

âIn 2009-10, that loss was Â£35.5m. Our accounts for 2010-11 are expected to show an operating loss of just Â£4.7m and this year, we hope we will be close to breaking even. The club is working towards the boundaries of Uefaâs financial fair play rules.â

He added: âTo make our ambitions clear to supporters and stakeholders, our aim for the 2011-12 season is at least a top 10 finish in the Barclays Premier League. We are fully aware that Newcastle United holds a unique place in the lives of Geordies around the world.

âOur supporters are the lifeblood of the club and the Board understands that it has been charged with ensuring their club is properly run and continues its growth both on and off the field over the next year and beyond.

âIn declaring our aims for this season, we are demonstrating our commitment to taking this club forward from what is now becoming a stronger and more healthy position.â